GULF CARE INC

EIN: 592239342 501(c)(3) Human Services

CAPE CORAL, FL

Total Revenue
$38,740,032
Total Expenses
$41,815,850
Total Assets
$94,429,209
Net Assets
$-32,732,385
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1983
Legal Domicile
FL
Principal Officer
RYAN KELLER
Phone
2397721333
Tax Period
2023-07-01 to 2024-06-30

GULF CARE INC, founded in 1983, is a mid-sized nonprofit in the Human Services sector that reported $38.7M in total revenue in fiscal year 2023.

Mission

TO PROVIDE HOUSING AND PERSONAL CARE SERVICES TO THE ELDERLY THROUGH THE OPERATION OF A CCRC.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $5,606,853
Program Service Revenue $32,871,596
Investment Income $272,328
Other Revenue $-10,745
TOTAL REVENUE $38,740,032

Expense Breakdown

Grants Paid $0
Salaries & Benefits $18,549,697
Fundraising Expenses $0
Program Expenses $36,851,645
Other Expenses $23,266,153
TOTAL EXPENSES $41,815,850

Year-over-Year Comparison

2023 2022 Change
Revenue $38,740,032 $36,633,299 +0.1%
Expenses $41,815,850 $43,203,156 0.0%
Net Income $-3,075,818 $-6,569,857 -0.5%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
15
Independent Members
14
Employees
533
Volunteers
240

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
12
$2,974,484
Total Directors
15
$825,085
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
NANCY SUE RASE CHAIR/DIRECTOR 0.10
Officer Director
$0 $0 $0
DERRICK PERKINS VICE CHAIR/DIRECTOR 0.10
Officer Director
$0 $0 $0
KAREN ERICKSON TREASURER/DIRECTOR 0.10
Officer Director
$0 $0 $0
ANDREW EDEBURN SECRETARY/DIRECTOR 0.10
Officer Director
$0 $0 $0
PATTI ANDREINI ARNOLD DIRECTOR 0.10
Director
$0 $0 $0
SHAWN BLOOM DIRECTOR 0.10
Director
$0 $0 $0
EDWINA CARRINGTON DIRECTOR 0.10
Director
$0 $0 $0
KAREN HACKETT DIRECTOR 0.10
Director
$0 $0 $0
KEITH KNAPP DIRECTOR 0.10
Director
$0 $0 $0
BETH MULLEN DIRECTOR 0.10
Director
$0 $0 $0
JEANNE PETERSON DIRECTOR 0.10
Director
$0 $0 $0
PATRICK SHERIDAN DIRECTOR 0.10
Director
$0 $0 $0
VORIS VIGEE DIRECTOR 0.10
Director
$0 $0 $0
PIERRE VIGILANCE DIRECTOR 0.10
Director
$0 $0 $0
MICHAEL KING PRESIDENT 3.00
Officer Director
$0 $179,300 $825,085
JOSEPH A BUDZYNSKI ASST. TREASURER/ASST. SECRETARY 3.00
Officer
$0 $108,473 $449,025
KIMBERLY B KING ASST. SECRETARY/ASST. TREASURER 3.00
Officer
$0 $72,837 $505,657
NANCY A GAVIN ASST. SECRETARY/ASST. TREASURER 3.00
Officer
$0 $95,108 $275,370
FAITH A NUTZ ASST. SECRETARY/ASST. TREASURER 3.00
Officer
$0 $20,965 $159,860
DAVID NISIVOCCIA ASST. TREASURER/ASST. SECRETARY 3.00
Officer
$0 $4,998 $220,517
PAUL F SOCZYNSKI ASST. TREASURER/ASST. SECRETARY 3.00
Officer
$0 $26,987 $317,529
ANNA WALSH ASST. TREASURER/ASST. SECRETARY 3.00
Officer
$0 $20,116 $221,441
GREGORY ANDERSON ASSOC EXECUTIVE DIRECTOR 40.00
Highest
$153,487 $11,980 $165,467
JOE FINOCCHIARO SR DIRECTOR FINANCE GCV 40.00
Highest
$133,088 $13,717 $146,805
JOHN J NICOLETTE DIRECTOR OF ANCILLARY SERVICES 40.00
Highest
$119,931 $35,998 $155,929
NICOLLE SAINT LOUIS LICENSED PRACTICAL NURSE 40.00
Highest
$118,294 $12,704 $130,998
DELA REA REMIGIO P PHYSICAL THERAPIST 40.00
Highest
$109,257 $12,009 $121,266
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $38,740,032 $41,815,850 $94,429,209 $-3,075,818
2023 $36,633,299 $43,203,156 $89,738,073 $-6,569,857
2022 $33,985,849 $38,409,326 $92,540,855 $-4,423,477
2021 $33,635,859 $37,149,624 $96,060,136 $-3,513,765
2020 $33,696,091 $36,961,288 $96,025,363 $-3,265,197
2019 $31,960,860 $35,940,431 $97,222,154 $-3,979,571
2018 $26,576,176 $32,107,792 $98,934,303 $-5,531,616
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